Adapting Candlestick Pattern Recognition (CPR) to other markets
The original target market for Candlestick Pattern Recognition (CPR) is foreign exchange. By itself, foreign exchange is larger than any other known markets like stocks, futures, options, etc. All of these markets may implement candlesticks charting. Regardless in which market candlestick charts are used, the theories invoked and the psychology applied are the same. Since candlestick patterns are somewhat subjective, traders may derive varying results from the same formation. Nevertheless, candlestick formations remain firm and solid all-market wise. There are two functions in Candlestick Pattern Recognition that are specific to foreign exchange. Disabling them and adjusting for decimal point precision will make CPR adaptable to markets other than foreign exchange. If the needs arise for using CPR in other markets, configuring it will not take too much time.